Nikola shareholders vote to issue new stock over Trevor Milton’s objection


Nikola Motor Company

Source: Nikola Motor Company

Electric truck maker Nikola has finally won shareholder approval to issue new stock, the company said on Tuesday. Nikola has been trying for two months to win enough votes to overcome the objection of its since-departed founder, who previously voted his 20% interest in Nikola against the proposal.

The company said it can now increase its total shares outstanding from 600 million to 800 million, giving it flexibility to raise cash by issuing new funds as needed. More than 66% of the total votes cast, or more than 211 million shares, were in favor of the proposal, Nikola said in a statement.

The measure required approval by owners of at least…


0 0 votes
Article Rating

Fed’s Mary Daly says ‘our work is far from done’ in raising rates

Previous article

Robinhood cutting about 23% of jobs, releases second-quarter earnings

Next article

You may also like

Notify of
Inline Feedbacks
View all comments

More in Autos